LIC MF aims to grow asset size to Rs 1 lakh crore by FY26, plans fund launches

Meanwhile on the issue of micro-SIPs, Jha said that they are all set to introduce lower investment thresholds, which will reduce the minimum monthly investment from Rs 1,000 to Rs 200 and daily SIP investment to Rs 100 from Rs 300 earlier.

LIC Mutual Fund is aiming to increase its assets under management (AUM) by more than three-fold to Rs 1 lakh crore by March 2026, and line up new funds, including a multi-asset fund as well as exchange trade funds (ETFs).

“We are confident of crossing Rs 60,000 crore this financial year,” said R K Jha, MD & CEO, LIC MF, highlighting that fund's AUM has been growing steadily, up nearly 70 percent between February 2023 and September this year, ahead of the industry average of around 34 percent.

In the current financial year, plans are underway to launch several new funds, including a multi-asset fund as well as ETFs, said the MD and CEO during the NFO launch of LIC MF's Manufacturing Fund.

On micro-SIPs, Jha said the fund is all set to introduce lower investment thresholds, reducing the minimum monthly investment from Rs 1,000 to Rs 200, and daily SIP investment to Rs 100 from Rs 300 earlier.

Making SIPs more accessible could bring in small investors who may have previously not have had the opportunity to use the mutual fund route, Jha said.

The MD and CEO added that while they will be watching out for more information on the ‘new asset class’, they aren't in any hurry to launch in this space.

The LIC MF Manufacturing Fund NFO will be open from September 20 to October 4 and will be benchmarked against the Nifty India Manufacturing Index.

The fund aims to capitalise on and invest in companies focused on the manufacturing theme across sectors including metals, automobiles and auto parts, pharma, shipbuilding etc. The fund house noted that the opportunities in the segment were immense on the back of the push for import subsidisation, China+1 strategy, availability of labour and government support through schemes like PLI etc.

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